VINK: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
VINK
NACE 46.869, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.5m
2024 · €1.9m+€574,080
Equity
€15.8m
2024 · €18.3m-€2.5m
Cash
€9.0m
2024 · €8.7m+€298,672
Balance sheet total
€29.8m
2024 · €32.0m-€2.2m
Largest movements
Assets
- Receivables within one year -€1.3m
down €1.3m (-11.8%), from €10.7m to €9.4m
of which Trade receivables: -€1.0m
- Stocks and contracts -€677,913
down €677,913 (-7.8%), from €8.7m to €8.0m
Equity and liabilities
- Reserves -€2.5m
down €2.5m (-14.2%), from €17.8m to €15.2m
of which Distributable reserves: -€2.5m
- Other debts +€2.5m
up €2.5m (+100.0%), from €2.5m to €5.0m
- Trade debts -€1.7m
down €1.7m (-20.8%), from €7.9m to €6.3m
- Tax, wage and social debts -€457,348
down €457,348 (-14.7%), from €3.1m to €2.6m
of which Remuneration and social security: -€630,474
Income statement
- Goods and materials -€3.0m
down €3.0m (-7.6%), from €39.5m to €36.6m
of which Purchases: -€38.3m
- Turnover -€2.6m
down €2.6m (-4.2%), from €63.1m to €60.5m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€1.9m
Turnover
-€2.6m
Other operating income
-€282,655
Goods and materials
+€3.0m
Services and other goods
+€404,288
Staff costs
+€369,081
Depreciation
-€13,720
Write-downs
-€129,270
Provisions
+€16,000
Other operating charges
+€48,999
Other operating items
-€22,652
Financial income
-€181,356
Financial charges
+€4,100
Other financial items
+€209,677
Taxes
-€218,483
Deferred taxes and other
+€1
Result 2025
€2.5m
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€5.6m
Investment
-€293,152
Financing
-€5.0m
Cash 2024
€8.7m
From operations (derived)
+€5.6m
Net result for the year
+€2.5m
Depreciation
+€497,479
Stocks and contracts
+€677,913
Receivables within one year
+€1.3m
Deferred charges and accrued income
+€316,925
Provisions
-€29,000
Trade debts
-€1.7m
Tax, wage and social debts
-€457,348
Other debts
+€2.5m
Investment (derived)
-€293,152
Investment in fixed assets (net)
-€293,152
Financing
-€5.0m
Contributions, distributions and other
-€5.0m
Not broken down
+€1
Cash 2025
€9.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,950,813 | €29,787,288 | -€2.2m | -6.8% |
| Fixed assets | 21/28 | €3,618,262 | €3,413,934 | -€204,328 | -5.6% |
| Intangible fixed assets | 21 | €101,786 | €53,745 | -€48,041 | -47.2% |
| Tangible fixed assets | 22/27 | €3,516,476 | €3,360,190 | -€156,286 | -4.4% |
| Land and buildings | 22 | €2,393,814 | €2,188,220 | -€205,594 | -8.6% |
| Plant, machinery and equipment | 23 | €954,128 | €1,113,544 | +€159,416 | +16.7% |
| Furniture and vehicles | 24 | €83,395 | €58,426 | -€24,969 | -29.9% |
| Assets under construction and advance payments | 27 | €85,139 | - | -€85,139 | |
| Current assets | 29/58 | €28,332,551 | €26,373,354 | -€2.0m | -6.9% |
| Stocks and contracts in progress | 3 | €8,663,555 | €7,985,642 | -€677,913 | -7.8% |
| Stocks | 30/36 | €8,663,555 | €7,985,642 | -€677,913 | -7.8% |
| Work in progress | 32 | €114,949 | €51,510 | -€63,439 | -55.2% |
| Goods purchased for resale | 34 | €8,548,606 | €7,934,132 | -€614,474 | -7.2% |
| Amounts receivable within one year | 40/41 | €10,670,348 | €9,407,317 | -€1.3m | -11.8% |
| Trade receivables | 40 | €10,272,968 | €9,223,384 | -€1.0m | -10.2% |
| Other amounts receivable | 41 | €397,380 | €183,933 | -€213,447 | -53.7% |
| Cash at bank and in hand | 54/58 | €8,681,723 | €8,980,395 | +€298,672 | +3.4% |
| Deferred charges and accrued income | 490/1 | €316,925 | €0 | -€316,925 | -100.0% |
| Total equity and liabilities | 10/49 | €31,950,813 | €29,787,288 | -€2.2m | -6.8% |
| Equity | 10/15 | €18,303,242 | €15,780,151 | -€2.5m | -13.8% |
| Contributions | 10/11 | €546,000 | €546,000 | = | 0.0% |
| Reserves | 13 | €17,757,242 | €15,234,151 | -€2.5m | -14.2% |
| Non-distributable reserves | 130/1 | €71,126 | €71,126 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €71,126 | €71,126 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €236,265 | €236,265 | +€0 | 0.0% |
| Distributable reserves | 133 | €17,449,851 | €14,926,760 | -€2.5m | -14.5% |
| Provisions and deferred taxes | 16 | €97,000 | €68,000 | -€29,000 | -29.9% |
| Provisions for liabilities and charges | 160/5 | €97,000 | €68,000 | -€29,000 | -29.9% |
| Pensions and similar obligations | 160 | €97,000 | €68,000 | -€29,000 | -29.9% |
| Amounts payable | 17/49 | €13,550,570 | €13,939,137 | +€388,567 | +2.9% |
| Amounts payable within one year | 42/48 | €13,550,570 | €13,939,137 | +€388,567 | +2.9% |
| Trade debts | 44 | €7,946,981 | €6,292,896 | -€1.7m | -20.8% |
| Suppliers | 440/4 | €7,946,981 | €6,292,896 | -€1.7m | -20.8% |
| Taxes, remuneration and social security | 45 | €3,103,589 | €2,646,241 | -€457,348 | -14.7% |
| Taxes | 450/3 | €651,832 | €824,958 | +€173,126 | +26.6% |
| Remuneration and social security | 454/9 | €2,451,757 | €1,821,283 | -€630,474 | -25.7% |
| Other amounts payable | 47/48 | €2,500,000 | €5,000,000 | +€2.5m | +100.0% |
| Operating income | 70/76A | €63,739,805 | €60,815,031 | -€2.9m | -4.6% |
| Turnover | 70 | €63,071,159 | €60,451,693 | -€2.6m | -4.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€42,025 | -€63,439 | -€21,414 | -51.0% |
| Other operating income | 74 | €709,432 | €426,777 | -€282,655 | -39.8% |
| Non-recurring operating income | 76A | €1,240 | €0 | -€1,240 | -100.0% |
| Operating charges | 60/66A | €61,118,973 | €57,434,058 | -€3.7m | -6.0% |
| Goods for resale, raw materials and consumables | 60 | €39,544,552 | €36,555,017 | -€3.0m | -7.6% |
| Purchases | 600/8 | €38,348,709 | - | -€38.3m | |
| Change in stocks: decrease (increase) | 609 | €1,195,843 | €669,019 | -€526,824 | -44.1% |
| Services and other goods | 61 | €7,373,730 | €6,969,442 | -€404,288 | -5.5% |
| Remuneration, social security and pensions | 62 | €13,718,588 | €13,349,507 | -€369,081 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €483,759 | €497,479 | +€13,720 | +2.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€205,498 | -€76,228 | +€129,270 | +62.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€13,000 | -€29,000 | -€16,000 | -123.1% |
| Other operating charges | 640/8 | €216,841 | €167,842 | -€48,999 | -22.6% |
| Operating profit (loss) | 9901 | €2,620,832 | €3,380,973 | +€760,141 | +29.0% |
| Financial income | 75/76B | €181,356 | - | -€181,356 | |
| Recurring financial income | 75 | €181,356 | €209,678 | +€28,322 | +15.6% |
| Income from current assets | 751 | €18,598 | €26,190 | +€7,592 | +40.8% |
| Other financial income | 752/9 | €162,759 | €183,489 | +€20,730 | +12.7% |
| Financial charges | 65/66B | €162,739 | €158,639 | -€4,100 | -2.5% |
| Recurring financial charges | 65 | €162,739 | €158,639 | -€4,100 | -2.5% |
| Other financial charges | 652/9 | €162,739 | €158,639 | -€4,100 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €2,639,449 | €3,432,011 | +€792,562 | +30.0% |
| Income taxes | 67/77 | €736,620 | €955,103 | +€218,483 | +29.7% |
| Taxes | 670/3 | €743,000 | €955,103 | +€212,103 | +28.5% |
| Tax adjustments and reversals of tax provisions | 77 | €6,380 | - | -€6,380 | |
| Profit (loss) for the period | 9904 | €1,902,829 | €2,476,909 | +€574,080 | +30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,902,829 | €2,476,909 | +€574,080 | +30.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.